Five Indian Firms Make Their Way In Forbes List Of Most Innovative Companies
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Five Indian companies are among The annual 'World's Most Innovative Companies' list was released on August 20 (Wednesday). California-based global cloud computing company
Other than consumer goods company Hindustan Unilever, which is ranked 14th, and IT major Tata Consultancy Services, which secured 57th rank, construction services firm
Mumbai-based company Hindustan Unilever recorded an innovation premium of 54.7%. On the other hand IT service firm TCS’s innovation premium was 39.58% and the company had a market cap of $71.25 billion as of May 2014. L&T had an innovation premium of 39.4% and a market cap of $ 19.81 billion. Sun Pharma recorded an innovation premium of 38.34% and a market cap of $19.88 billion and Bajaj Auto’s innovation premium reached 31.73%. It registered a market cap of $10 billion.
As per Forbes, the innovation premium is a measure of how much investors have bid up the stock price of a company above the value of its existing business based on expectations of future.
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With a market cap of $ 35.87 billion, Salesforce had an innovation premium of 75.9%. The company continued its reign as Forbes' most innovative company for the fourth straight year.
Notably, the US was home to a majority of the firms on the list with 41 firms headquartered in the country. This was followed by Europe with 29 companies.
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